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Simplify. Write the answer using positive exponents.
Depression of the 1930s
A severe worldwide economic downturn that lasted throughout the 1930s, marked by significant declines in industrial production, widespread unemployment, and deflation.
Recession
A temporary stage of economic depletion, highlighted by a downturn in trade and industrial action, normally identified by a GDP reduction in two back-to-back quarters.
Stagflation
A situation in the economy where inflation and unemployment rates are high simultaneously, leading to slow economic growth.
Deflation
A decrease in the general price level of goods and services, often indicative of a reduction in the money supply or demand.
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